{"id":128,"date":"2026-10-27T08:38:22","date_gmt":"2026-10-27T08:38:22","guid":{"rendered":"https:\/\/fieldmarshalgroup.com\/?page_id=128"},"modified":"2026-10-27T08:39:36","modified_gmt":"2026-10-27T08:39:36","slug":"markets","status":"publish","type":"page","link":"https:\/\/fieldmarshalgroup.com\/?page_id=128","title":{"rendered":"Markets"},"content":{"rendered":"\n<div style=\"max-width:860px;margin:0 auto 28px;font-family:'Josefin Sans',sans-serif;line-height:1.7\"><p style=\"margin:0 0 14px\">The land produces four things that trade on world markets: soybeans, maize, sorghum and beef. The board below shows ten years of world prices for each and the OECD-FAO outlook for the ten years ahead. The project&#8217;s underwriting does not depend on prices rising; it assumes soybeans at $400 a tonne, below every year of the outlook, and takes its return from the re-rating of titled, developed land.<\/p><\/div>\n<link rel=\"stylesheet\" href=\"https:\/\/fonts.googleapis.com\/css2?family=Poiret+One&#038;family=Josefin+Sans:wght@300;400;600&#038;display=swap\">\n<style>\n#fmg-ob{background:#2f3d1c;border-top:6px double #c9a227;border-bottom:6px double #c9a227;padding:38px 24px 28px;margin:0;box-sizing:border-box;font-family:'Josefin Sans',sans-serif;position:relative}\n#fmg-ob::before{content:\"\";position:absolute;inset:14px;border:1px solid rgba(201,162,39,.45);pointer-events:none}\n#fmg-ob .t{text-align:center;font-family:'Poiret One',sans-serif;text-transform:uppercase;letter-spacing:7px;color:#e8d48a;font-size:24px;margin:0 0 4px}\n#fmg-ob .t::after{content:\"\";display:block;width:180px;height:12px;margin:12px auto 0;background:linear-gradient(#c9a227,#c9a227) center 5px\/100% 1px no-repeat,linear-gradient(45deg,transparent 40%,#c9a227 40% 60%,transparent 60%) center\/12px 12px no-repeat}\n#fmg-ob .s{text-align:center;font-weight:300;color:#fff;font-size:15px;letter-spacing:.5px;margin:12px auto 22px;max-width:760px;line-height:1.6}\n#fmg-ob .tabs{display:flex;justify-content:center;flex-wrap:wrap;gap:12px;margin:0 0 18px}\n#fmg-ob .tabs button{font-family:'Poiret One',sans-serif;font-size:15px;letter-spacing:3px;text-transform:uppercase;background:transparent;color:#e8d48a;border:1px solid #c9a227;outline:1px solid rgba(201,162,39,.45);outline-offset:3px;padding:9px 20px;cursor:pointer;transition:background .2s,color .2s}\n#fmg-ob .tabs button.on,#fmg-ob .tabs button:hover{background:#c9a227;color:#1f2a12}\n#fmg-ob .frame{max-width:1100px;margin:0 auto;border:1px solid #c9a227;outline:1px solid rgba(201,162,39,.5);outline-offset:5px;background:#1b2412;padding:20px 20px 12px}\n#fmg-ob .stats{display:grid;grid-template-columns:repeat(4,1fr);gap:12px;margin:0 0 14px}@media (max-width:560px){#fmg-ob .stats{grid-template-columns:repeat(2,1fr)}}\n#fmg-ob .st{border-top:2px solid #c9a227;padding:9px 4px 0;text-align:center}\n#fmg-ob .st .v{color:#fff;font-size:24px;font-weight:600;line-height:1.1}\n#fmg-ob .st .l{color:#c9b77a;font-size:11px;letter-spacing:1.5px;text-transform:uppercase;margin-top:5px}\n#fmg-ob .st.gold .v{color:#e8d48a}\n#fmg-ob .cw{position:relative;height:400px;width:100%}\n#fmg-ob .leg{display:flex;justify-content:center;flex-wrap:wrap;gap:18px;margin:10px 0 0;font-size:12px;color:#c9b77a}\n#fmg-ob .leg span{display:flex;align-items:center;gap:6px}\n#fmg-ob .leg i{display:inline-block;width:22px;height:0;border-top:2px solid #c9a227}\n#fmg-ob .leg i.d{border-top-style:dashed}\n#fmg-ob .leg i.b{border-top:1.5px dashed #e8d48a}\n#fmg-ob .f{text-align:center;font-weight:300;color:#c9b77a;font-size:12px;letter-spacing:.4px;margin:16px auto 0;max-width:900px;line-height:1.6}\n@media (max-width:640px){#fmg-ob .cw{height:300px}#fmg-ob .t{font-size:19px;letter-spacing:4px}#fmg-ob .st .v{font-size:20px}}\n<\/style>\n<div id=\"fmg-ob\">\n<p class=\"t\">The markets we sell into<\/p>\n<p class=\"s\">World prices for what the land produces: ten years of history and the OECD-FAO outlook to 2035. The project&#8217;s base case assumes $400 a tonne for soybeans; the outlook never falls below $480.<\/p>\n<div class=\"tabs\" id=\"fmg-tabs\"><\/div>\n<div class=\"frame\">\n<div class=\"stats\" id=\"fmg-stats\"><\/div>\n<div class=\"cw\"><canvas id=\"fmg-chart\" role=\"img\" aria-label=\"World price history 2016 to 2025 and OECD-FAO projection 2026 to 2035 for soybeans, maize, sorghum and beef\"><\/canvas><\/div>\n<div class=\"leg\"><span><i><\/i>History 2016\u20132025<\/span><span><i class=\"d\"><\/i><em id=\"fmg-legp\" style=\"font-style:normal\">OECD-FAO projection 2026\u20132035<\/em><\/span><span id=\"fmg-legb\"><i class=\"b\"><\/i>Project base case<\/span><\/div>\n<\/div>\n<p class=\"f\">Source: OECD-FAO Agricultural Outlook 2026\u20132035, world price series, nominal US dollars per tonne. Soybeans CIF Rotterdam; maize US Gulf; beef and veal, Australia FOB to the United States. Projections are the OECD-FAO baseline, not a forecast by Field Marshal Group. Sorghum history is the US farm-gate price received (USDA NASS), annual average, converted to dollars per tonne; the OECD-FAO does not project sorghum, so its outlook here applies the ten-year average sorghum-to-maize price ratio (83%) to the maize outlook.<\/p>\n<\/div>\n<script src=\"https:\/\/cdnjs.cloudflare.com\/ajax\/libs\/Chart.js\/4.4.1\/chart.umd.js\"><\/script>\n<script>\n(function(){\nvar yrs=[];for(var y=2016;y<=2035;y++)yrs.push(String(y));\nvar D={\"Soybeans\":{\"v\":[403.6,403.4,369.9,379.8,563.3,639.7,589.5,496,436.3,465.7,482.2,492.8,498.6,502.8,513,522.9,530,538.1,545.3,553.4],\"base\":400,\"baseLabel\":\"Project base case 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